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Homeowners Insurance Soars: Utah Hits 59% Spike

4/30/2025

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Summary

Story summary

Homeowners insurance premiums have skyrocketed by 24%, far exceeding inflation rates, with Utah facing a staggering 59% hike. Climate change and tight reinsurance markets are driving these costs. The Consumer Federation of America urges stronger regulations to safeguard consumers, while Florida continues to be the priciest state, with average annual premiums soaring to $9,462.

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Story summary

Homeowners insurance premiums have skyrocketed by 24%, far exceeding inflation rates, with Utah facing a staggering 59% hike. Climate change and tight reinsurance markets are driving these costs. The Consumer Federation of America urges stronger regulations to safeguard consumers, while Florida continues to be the priciest state, with average annual premiums soaring to $9,462.